Entergy Corporation (ETR) Price Target Raised to $84.00
Entergy Corporation (NYSE:ETR) had its target price upped by research analysts at Morgan Stanley from $82.00 to $84.00 in a research report issued to clients and investors on Friday. The firm presently has an “underweight” rating on the utilities provider’s stock. Morgan Stanley’s price objective would suggest a potential upside of 5.25% from the company’s current price.
A number of other brokerages also recently commented on ETR. ValuEngine upgraded shares of Entergy Corporation from a “hold” rating to a “buy” rating in a research report on Monday, August 7th. Zacks Investment Research downgraded shares of Entergy Corporation from a “hold” rating to a “sell” rating in a research report on Friday, June 16th. Jefferies Group LLC reiterated a “hold” rating and set a $78.00 price target on shares of Entergy Corporation in a research report on Thursday, July 6th. Wells Fargo & Company lifted their price target on shares of Entergy Corporation from $83.50 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, May 31st. Finally, BMO Capital Markets reiterated a “hold” rating and set a $78.00 price target on shares of Entergy Corporation in a research report on Friday, August 4th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $78.33.
Shares of Entergy Corporation (ETR) traded up 0.74% during trading on Friday, hitting $79.81. The stock had a trading volume of 744,491 shares. Entergy Corporation has a 12-month low of $66.71 and a 12-month high of $81.83. The stock’s 50-day moving average is $77.71 and its 200-day moving average is $76.88. The stock’s market cap is $14.33 billion.
Entergy Corporation (NYSE:ETR) last announced its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $3.11 EPS for the quarter, beating the Zacks’ consensus estimate of $1.20 by $1.91. The firm had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.44 billion. Entergy Corporation had a negative net margin of 7.98% and a positive return on equity of 14.08%. During the same quarter last year, the firm earned $3.16 earnings per share. On average, equities research analysts expect that Entergy Corporation will post $6.51 EPS for the current year.
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In other news, Director Alexis M. Herman sold 995 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $76.38, for a total transaction of $75,998.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charles L. Rice, Jr. sold 1,000 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $78.95, for a total transaction of $78,950.00. The disclosure for this sale can be found here. Insiders sold a total of 3,495 shares of company stock valued at $271,313 over the last ninety days. 0.24% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Entergy Corporation by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 19,927,324 shares of the utilities provider’s stock valued at $1,513,680,000 after buying an additional 470,255 shares during the period. BlackRock Inc. grew its stake in shares of Entergy Corporation by 1.0% during the 2nd quarter. BlackRock Inc. now owns 16,243,801 shares of the utilities provider’s stock valued at $1,247,035,000 after buying an additional 154,117 shares during the period. State Street Corp grew its stake in shares of Entergy Corporation by 1.2% during the 1st quarter. State Street Corp now owns 9,721,185 shares of the utilities provider’s stock valued at $738,419,000 after buying an additional 115,341 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Entergy Corporation by 7.3% during the 1st quarter. Ameriprise Financial Inc. now owns 4,461,044 shares of the utilities provider’s stock valued at $338,859,000 after buying an additional 305,111 shares during the period. Finally, AJO LP grew its stake in shares of Entergy Corporation by 16.0% during the 2nd quarter. AJO LP now owns 3,518,543 shares of the utilities provider’s stock valued at $270,119,000 after buying an additional 485,602 shares during the period. 84.07% of the stock is owned by institutional investors.
Entergy Corporation Company Profile
Entergy Corporation is a holding company. The Company is an integrated energy company engaged in electric power production and retail electric distribution operations. The Company operates through two business segments: Utility and Entergy Wholesale Commodities. The Utility segment includes the generation, transmission, distribution and sale of electric power to retail and wholesale customers in areas of Arkansas, Mississippi, Texas and Louisiana, including the City of New Orleans and operates a natural gas distribution business.
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